Russia - 05

Russia: Rosneft: Debt and Output in 2015

Rosneft’s financial and operating results for the first nine months of 2015 unveiled on 25 November demonstrated two major trends. The first is the reduction in the company’s debt: Aided by about $14bn in prepayments from its Chinese buyers, Rosneft reported a major drop in its net debt, which currently stands at $24.5bn – less than half of its level in late 2013. With net debt at 1.3 times the company’s EBITDA and about $13.7bn to be repaid next year, Rosneft appears to be out of the woods financially.

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